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The luxury department store Barneys New York is considering a bankruptcy filing, Reuters reported, citing unknown acquaintances in the case.
The retailer is working with Kirkland & Ellis LLP to prepare for a possible bankruptcy in the coming weeks, said one of the people quoted by the Reuters news agency. Barneys has not yet made a final decision and weighs other solutions.
"Our board of directors and management are actively evaluating opportunities to strengthen our balance sheet and ensure the long-term, sustainable growth and success of our business," said a company spokesperson. a statement.
The company continues to evolve on strategy and business model, as evidenced by the announcement of the opening of stores in New Jersey, Miami Beach, Las Vegas and its projects in Boston says the statement.
Earlier this year, the company sought to reduce the size of its Madison Avenue store to reduce the company's annual $ 30 million rent, according to the New York Post. Barneys also opened and began selling luxury cannabis products at its Beverly Hills outpost.
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